Reinsurance (Insurance Act, 1938 Section 101A to Section 101C )

1) What is Reinsurance -        Reinsurance is a risk transfer mechanism whereunder an insurance company passes on the risk on an insura...

Persons Entitled to payment under Life Insurance

What is insurance -        Insurance is a plan which ensures certainty of payment for the uncertain loss. The aim of all kinds of insuran...

Insurable Interest in Life insurance Classification of Insurable Interest in Life insurance (Insurance Law)

              The test of a valid insurance contract is the existence of the insurable interest. Insurable interest is nothing but an inter...

Objective Type Questions on Insurance Contract (Insurance Law )

Multiple Type Questions and Answer...(Insurance Law) 1. Choose the correct option... A. In an insurance contract, an insurer makes ...

Explain the concept and scope of life insurance what are the essentials of life insurance contract?

Introduction -                Insurance is a contract in which one party (the insurer) agrees for payment of consideration (the premium) ...

Formation of Life Insurance Contract

              In simple words, Insurance is a contract in which one party (the insurer), for a consideration (the premium), assumes a part...